QUESTION
What is the least expensive way to legally have the mortgage and home ownership transferred to my name?
Asked on Jan 30th, 2014 on Divorce - Rhode Island
More details to this question:
I have been divorced for almost a year now and have been making the payments on the home which was freely awarded to me in the uncontested divorce. It was in my spouse's name and not my own. I have a 17 year old child from the marriage living in the home. The ex is willing to sign over whatever he needs to in order to get the mortgage out of his name.
6 ANSWERS
Family Law Attorney serving Peoria, AZ
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The Law Firm of Jessica M. Cotter, P.L.L.C.
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Unfortunately the only way for you to get the ex-husband's name off of the mortgage would be for you to refinance the house in your name, thus paying off the mortgage with his name on it. The primary reason this is the case is because the mortgage company prefers to keep as many parties responsible for the mortgage as possible.
Answered on Feb 03rd, 2014 at 1:57 PM
Social Security Disability Attorney serving Melbourne, FL
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Law Office of Robert E. McCall
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You must talk with holder of the Mortgage. Be aware that some refuse to take a signer's name off the mortgage; then the only recourse is to refinance which may be expensive.
Answered on Feb 03rd, 2014 at 1:57 PM
You would need to contact the mortgage company and ask them if they would transfer the mortgage to you.
Answered on Feb 03rd, 2014 at 1:56 PM
In order to have mortgage, not and title transferred, you must have approval of the Lender. Either the lender must approve or you will need to refinance.
Answered on Feb 03rd, 2014 at 1:56 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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You need to get with the company that you are going to refinance with and ask them what you need. I would imagine that they will need a quit claim deed from your husband at some point.
Answered on Feb 03rd, 2014 at 1:56 PM
Personal Injury Attorney serving San Antonio, TX
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Law Offices of James P. Peterson
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Get another home loan and pay off the first loan is the only way to get the loan out of both your names.
Answered on Feb 03rd, 2014 at 1:56 PM